Ethereum Reaches $2,807 as Weekly Trend Shifts Despite Momentum Divergence
Ethereum has recorded its first weekly higher high since 2025, though lower daily indicator peaks point to potential momentum challenges.
Ethereum climbed to $2,807, registering its first higher high on the weekly timeframe since reaching an all-time peak near $4,957 in August 2025. The upward move turned previous resistance around $2,438 into a support zone, pushing the weekly Relative Strength Index to 64.
Market analyst Benjamin Cowen reported that Ethereum has moved back into its historical logarithmic regression band. While Cowen noted plans to dollar-cost average during the second half of the US midterm year, he highlighted the possibility of another market shock in the fourth quarter, even as corporate treasury allocations to ETH continue.
Despite the higher-timeframe breakout, the daily chart exhibits a bearish divergence, with the price setting higher highs while daily RSI readings and trading volume decline. Market analysis indicates that maintaining the $2,440 support level is necessary to preserve the current structure, whereas a breakdown could expose support zones between $1,950 and $2,000.
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